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Back The Other Way, Tight Ranges In Play


The early, modest cheapening has unwound, with cash Tsys now bull flattening, as the major benchmarks run little changed to 1bp richer across the curve. There hasn’t been much in the way of notable headline flow to drive the minor turnaround, with cross-market gyrations (the broader USD is off its session peak and e-minis have unwound marginal gains) seemingly at the fore. TYU2 last deals +0-00+ at 119-03+ sticking to a tight 0-06 range thus far. Note that the recent elevation in Chinese COVID cases continues to garner attention.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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